I try to learn more in depth about topics that interest me. I was reading about the Great Depression, but it is so hard to understand for me what exactly cause it, as I read it, it feels like a mix of fancy words that don’t tell me much (likely due to my lack of knowledge and english not being my 1st language). So, could anyone explain me in simple words what exactly cause the Great Depression?
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Many different things caused the downturn, but the thing that made it the great depression was deflation.
Rather than making it easier to borrow or lend money in response to the downturn, the US made it harder. This caused a ton of already strained banks to fail and access to borrowing pretty much evaporate across the country. It was a massive policy failure.
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